Typically, HR gains insight into business challenges through participation in the corporate strategy process or, if not taking part of the strategic formulation process, by accessing corporate strategy documents. In some organizations, alongside strategic business priorities, risk assessments are provided, offering crucial inputs for HR's strategic planning endeavors.
Dimensions typically emphasized under each external factor
Political
Personal Security Government stability
Foreign policy Corruption level
Tax policy Freedom to act Foreign policy
Economic
Price fluctuation Stock market trends Consumer disposal income
Exchange rate Unemployment Labour cost Monetary policy
Growth rate Inflation rate Interest rate GDP
Fiscal policy
Social
Attitude toward work, leisure, career, retirement Attitude toward good, services and customer Age distribution and life expectancy rate
Education level Lifestyle Religion & belief
Technology
Communication network
Basic infrastructure level Technology incentive Spending on R&D
Legislation regarding technology Rate of technological change
Environmental
Waste management Attitude toward green or ecological product Attitude toward and support for renewable energy
Climate change Air &weather pollution Recycling
Legal
Health and safety law
Anti- trust law Discrimination law Employment law Data projection
Copyright, patents, intellectual property law Consumer protection and e-commerce
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